Correlation Between Global E and GungHo Online
Can any of the company-specific risk be diversified away by investing in both Global E and GungHo Online at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Global E and GungHo Online into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global E Online and GungHo Online Entertainment, you can compare the effects of market volatilities on Global E and GungHo Online and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Global E with a short position of GungHo Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global E and GungHo Online.
Diversification Opportunities for Global E and GungHo Online
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Global and GungHo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Global E Online and GungHo Online Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GungHo Online Entert and Global E is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Global E Online are associated (or correlated) with GungHo Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GungHo Online Entert has no effect on the direction of Global E i.e., Global E and GungHo Online go up and down completely randomly.
Pair Corralation between Global E and GungHo Online
If you would invest 3,729 in Global E Online on September 9, 2025 and sell it today you would earn a total of 337.00 from holding Global E Online or generate 9.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Global E Online vs. GungHo Online Entertainment
Performance |
| Timeline |
| Global E Online |
| GungHo Online Entert |
Global E and GungHo Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global E and GungHo Online
The main advantage of trading using opposite Global E and GungHo Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global E position performs unexpectedly, GungHo Online can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GungHo Online will offset losses from the drop in GungHo Online's long position.| Global E vs. Etsy, Inc | Global E vs. Miniso Group Holding | Global E vs. Bath Body Works | Global E vs. Murphy USA |
| GungHo Online vs. Boyaa Interactive International | GungHo Online vs. UbiSoft Entertainment | GungHo Online vs. Bravura Solutions Limited | GungHo Online vs. Ubisoft Entertainment |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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